Mortgage applications to purchase a home rose 8% last week compared with the previous week, bolstered in part by demand for adjustable-rate mortgages, according to the Mortgage Bankers AssociationR...
Tag: business news
Clean energy set for $1.4 trillion boost in 2022, IEA says
Coal and a wind turbine in Hohenhameln, Germany, on April 11, 2022. A number of major economies have formulated plans to reduce their reliance on Russian hydrocarbons in recent months. Mia Bucher | Pi...
CFPB may limit credit card late fees as inflation threatens to raise them
Rohit Chopra, director of the Consumer Financial Protection Bureau, testifies during a Senate Banking, Housing and Urban Affairs Committee hearing on April 26, 2022. Tom Williams | Cq-roll Call, Inc. ...
Sam Bankman-Fried rescues crypto lenders BlockFi, Voyager
With no central bank willing to come to the rescue, beleaguered crypto companies are turning to their peers for help. Billionaire crypto exchange boss Sam Bankman-Fried has signed deals to bail out tw...
Nike, La-Z-Boy, Altria Group, Coinbase, Dow & more
People walk past a store of the sporting goods retailer Nike Inc. at a shopping complex in Beijing, China March 25, 2021. Florence Lo | Reuters Check out the companies making headlines in midday tradi...
S&P 500 rebounds into the green as market attempts comeback from depths of the bear market
The S&P 500 rose Wednesday, continuing gains from the previous session as stocks attempted a comeback from the lows of the bear market. The broader market index rose 0.5%, while the Dow Jones Indu...
Powell tells Congress the Fed is ‘strongly committed’ to bringing down inflation
Federal Reserve Chairman Jerome Powell told congressional lawmakers Wednesday that the central bank is determined to bring down inflation and has the ability to make that happen. “At the Fed, we...
Why another stablecoin losing its peg isn’t ‘Terra 2.0’
Cryptocurrencies have been under immense pressure after the collapse of a so-called stablecoin called terraUSD. Umit Turhan Coskun | Nurphoto via Getty Images A controversial stablecoin launched just ...
Watch Powell’s testimony to Congress on the Fed’s inflation fight, state of the economy
[The stream is set to start at 9:30 a.m. ET] Federal Reserve Chair Jerome Powell on Wednesday began two days of testimony in front of Congress. The central bank chief is expected to provide updates on...
Winnebago, La-Z-Boy, Revlon and others
Check out the companies making headlines before the bell: Winnebago (WGO) – The recreational vehicle maker saw its stock jump 3.4% after it beat top and bottom-line estimates for its latest quarter. W...
Bitcoin (BTC) price may tank as low as $13,000, strategist warns
If crypto’s past bubbles are anything to go by, bitcoin could be about to fall much further. That’s according to one strategist, who warns the world’s top cryptocurrency is likely to...
Cramer’s lightning round: I like MP Materials
American Airlines Group Inc: “Long term, I don’t like the airline. Short term, this stock is too low, given the fact that people are traveling.” Marathon Oil Corp: “I like Mara...
Sweetgreen stock is ‘a recipe for portfolio destruction’
CNBC’s Jim Cramer on Tuesday warned investors not to invest in Sweetgreen, saying the stock is unlikely to perform well in an inflationary environment. “This is a bear market, not a bull m...
Inflation won’t ease anytime soon if Tuesday’s rally lasts
CNBC’s Jim Cramer said that Tuesday’s market gains need to come down in order for the Federal Reserve to beat inflation as soon as possible. “Right now, the best outcome would be for...
SpaceX FCC broadband feud vs. Dish, Michael Dell affiliate worsens
SpaceX CEO Elon Musk speaking about the Starlink project at MWC hybrid Keynote during the second day of Mobile World Congress on June 29, 2021 in Barcelona, Spain. Nurphoto | Nurphoto | Getty Images W...
Naomi Osaka partners with Lebron James to form media company Hana Kuma
Tennis Player, Naomi Osaka poses for a photo with LeBron James #23 of the Los Angeles Lakers after the game on April 4, 2019 at STAPLES Center in Los Angeles, California. Andrew D. Bernstein | Nationa...
Broadway mask mandate to be lifted July 1
The audience is given phantom masks to wear during the re-opening night performance of”Phantom Of The Opera” on Broadway at The Majestic Theatre on October 22, 2021 in New York City. Bruce...
Netflix talks with Google about ads as Sarandos is set to address Cannes this week
LOS ANGELES, CALIFORNIA – JUNE 12: CEO of Netflix Ted Sarandos attends Netflix’s FYSEE event for “Squid Game” at Raleigh Studios Hollywood on June 12, 2022 in Los Angeles, Cali...
Rail walk-out kicks off in UK amid fears of a summer of pay strikes
Forty thousand U.K. Network Rail staff and workers at 13 train operators have staged walkouts over pay in Britain’s biggest rail strike in 30 years. Jeff J Mitchell | Getty Images News | Getty I...
Sales of existing homes fell in May, and more declines are expected
Sales of existing homes in May dropped 3.4% to a seasonally adjusted annualized rate of 5.41 million units, according to the National Association of Realtors. Sales were 8.6% lower than in May 2021. A...
Crypto start-up MoonPay in NFT deal with Universal, Fox
MoonPay co-founder and CEO Ivan Soto-Wright at the Bitcoin 2022 conference in Miami. MoonPay Crypto start-up MoonPay said Tuesday that it’s partnering with Universal Pictures, Fox Corporation an...
Travel demand unlikely to dissipate despite airport chaos
Emirates has said it doesn’t see travel demand dissipating any time soon, even as the industry battles a string of challenges that have already sparked airport chaos ahead of the busy summer hol...
Pixar film nabs $51 million in domestic opening
Chris Evans voices Buzz Lightyear in Pixar’s “Lightyear.” Disney Pixar’s “Lightyear” rocketed to a $51 million domestic opening, the best performance of an animated...
How GM, Ford, Tesla are tackling the national EV charging challenge
More people than ever are buying electric vehicles. There are about 2 million EVs on the road in the U.S., up six-fold since 2016, but the number of EVs is still a very small slice of the more than 28...
Volvo has started testing trucks with fuel cells powered by hydrogen
According to Volvo Trucks, fuel cells for the vehicles will be provided by cellcentric, a joint venture with Daimler Truck that was established in March 2021. Tomohiro Ohsumi | Bloomberg | Getty Image...
Exxon Mobil, Alphabet, Kellogg, Charles Schwab and more
Gas pumps sit empty at an Exxon gas station in Charlotte, North Carolina on May 12, 2021. LOGAN CYRUS | AFP | Getty Images Check out the companies making headlines in midday trading Tuesday. Exxon Mob...
Here’s why this housing downturn is nothing like the last one
As quickly as mortgage rates are rising, the once red-hot housing market is cooling off. Home prices are still historically high, but there is concern now that they will ease up as well. All of this h...